The Minority in Parliament has maintained its stance that the current form of the deal between the Ghana National Petroleum Corporation (GNPC) and Genser Energy Ghana Limited (GNPC-GENSER) is bias towards other participants in the industry.
This follows the release of a report by a Parliamentary Committee, which was prompted by the Minority’s request for an investigation into the deal.
The Minority group has expressed reservations about the deal and has called for a thorough inquiry.
After eleven months, the Committee’s report endorsed the deal, asserting that the country gained approximately US$1.5 billion in savings from the GNPC-GENSER agreement.
Emmanuel Armah-Kofi Buah, Deputy Minority Leader, however, issued a statement in Accra emphasizing the necessity for an urgent review to ensure equitable conditions for all industry stakeholders.
He expressed concerns about the transfer of the agreement from Ghana Gas Company and the fact that GNPC signed the deal even though Ghana Gas was initially designated as the gas transmission utility.
It also raised questions about the discount granted by GNPC to Genser Energy for the gas transmission agreement.
“The Minority believes that these matters have been properly presented before the Parliament and necessitate a thorough assessment. Unfortunately, the Chairman of the Mines and Energy Committee rushed to release the report to the public domain before a new referral,” the statement read.
The Deputy leader emphasized the importance of transparency and accountability in the process and cautioned against premature public declarations that could potentially compromise the integrity of the forthcoming new referral.
Members of the joint committee on Finance and Mines and Energy within the caucus have committed to addressing the flaws in the agreement to ensure value for money.
“We hold this stance with a strong conviction that Ghana’s future heavily relies on our energy security, encompassing critical aspects such as transparent gas pricing,” the statement added.
Emmanuel Armah-Kofi Buah, drawing from his experience overseeing Ghana Gas’ establishment and the nation’s gas infrastructure development, pledged to rectify the shortcomings in the agreement. He also stressed the significant impact of projects like the ENI’s OCTP gas-power initiative on the country’s energy sector.
The Minority, he said, is dedicated to safeguarding the interests of Ghana’s populace and strives to strike a harmonious balance between private enterprise and societal benefit.